A new centre for university and commercial collaborations in design, technology, and manufacturing, called UI Labs recently opened there.

Port Urbanism approached R2 to study the little-known industrial zone, and the developers, who own several properties there, agreed and commissioned a study called Goose Island 2025.

"The thing that we realised is that we have to get out ahead of this, because no one was looking at the potential of the island," Moddrell said.

Goose Island is currently designated as a Planned Manufacturing District, so residential buildings cannot be constructed there.

Port Urbanism's plan advocates a small amount of residential development on the southern tip of the island. The firms also suggests turning the now non-navigable North Branch Canal into a water garden for recreational uses like kayaking.

The 160-acre (65 hectares) piece of land is located in the middle of the Chicago River and is immediately adjacent to several prosperous neighbourhoods including River North, Wicker Park, and Lincoln Park and is near downtown.

The island was created in 1853 when the North Branch Canal was dredged to increase barge traffic in the river.

Famous for its expansive lakefront, Chicago's riverfront is an increasingly important site of development in the city. Chicago's history of constructing engineered landscapes, including Goose Island, is key to the city's future, Jonathan Solomon wrote in Dezeen.